Admiral, the Cardiff-based group, announced on Friday that the shares of the company have increased by 4% in the first quarter. The company has posted an increment of 33% in the number of vehicles. The net profit was noted at £539million in the first quarter of 2011. The company has claimed that they have 10% of the share in the car insurance market.
London fashion outlet AllSaints was sold for an undisclosed sum to private equity firms Lion Capital and Goode Partners. The chain store was put on the market after two nationalized Icelandic banks, Kaupthing and Glitnir, which acquired the business after the collapse of fellow national bank Baugur, were looking to realize their assets.
Many economists have claimed that international bank, Lloyds has adopted clever strategies for its recent operations, whereas some of them believe that the bank is heavily exposed to the bad economic situation. The bank experienced a loss of £3.47bn in the first quarter and its shares also fell on the stock exchange.
Using cash and shares, the Central Insurance took over Aberdeen broker, Collins Halden & Burnet in a deal worth £2.6 million. The acquisition according to reports will boost their central’s premium placement into the UK insurance market to £51 million. Also, the firm states that, it places it as one of the top 15 independent brokers in the UK.
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